A rental truck can be an essential component of a do-it-yourself move. But what if you're not used to driving a big truck and a heavy load? Finding yourself in that situation can be daunting. No one likes to think the worst, but there is actually a greater chance of having an accident when you're in an unfamiliar vehicle. And if you'll be moving a long distance and leaving the truck exposed at night, there's also potential for theft. That's why it's prudent to purchase moving truck rental insurance.
Some people believe their car insurance policies cover any type of vehicle, so they automatically think they won't have any truck rental insurance costs. That's not the case, however; you need to have specific coverage. On the other hand, homeowners or rental insurance sometimes covers moving, so you should confirm whether that applies to your particular policy. If it doesn't, it's a good idea to purchase separate rental vehicle coverage. That will keep you from having to spend money out-of-pocket if there's damage or theft.
Rental companies vary in the protection options they offer and whether or not they require insurance. There are also independent truck rental insurance providers that sell policies. If you do some research, you can probably even find budget truck rental insurance options, which typically combine multiple coverage types and allow you to opt-out of any you want to forego. These can usually save you money.
Moving truck rental insurance comes in various forms:
Supplemental Liability Insurance
Supplemental liability insurance covers you if someone files a claim against you or the rental company for damages created while you're driving the truck.
Limited Damage Waiver Insurance
Limited damage waiver insurance keeps you from having to pay for any damages on the rental truck itself, up to a specified amount.
Assessed Value Insurance
Assessed value insurance helps cover the cost of items that are damaged or stolen during the move. It probably isn’t necessary if your trip is short but can be valuable if you're moving cross-country and the truck is sitting outside overnight.
It can be tempting to waive truck rental insurance entirely if you're on a budget, but think long and hard before you do that. The savings you would derive if a loss occurs would more than outweigh the few dollars per day you spend on the insurance.
Some people believe their car insurance policies cover any type of vehicle, so they automatically think they won't have any truck rental insurance costs. That's not the case, however; you need to have specific coverage. On the other hand, homeowners or rental insurance sometimes covers moving, so you should confirm whether that applies to your particular policy. If it doesn't, it's a good idea to purchase separate rental vehicle coverage. That will keep you from having to spend money out-of-pocket if there's damage or theft.
Rental companies vary in the protection options they offer and whether or not they require insurance. There are also independent truck rental insurance providers that sell policies. If you do some research, you can probably even find budget truck rental insurance options, which typically combine multiple coverage types and allow you to opt-out of any you want to forego. These can usually save you money.
Moving truck rental insurance comes in various forms:
Supplemental Liability Insurance
Supplemental liability insurance covers you if someone files a claim against you or the rental company for damages created while you're driving the truck.
Limited Damage Waiver Insurance
Limited damage waiver insurance keeps you from having to pay for any damages on the rental truck itself, up to a specified amount.
Assessed Value Insurance
Assessed value insurance helps cover the cost of items that are damaged or stolen during the move. It probably isn’t necessary if your trip is short but can be valuable if you're moving cross-country and the truck is sitting outside overnight.
It can be tempting to waive truck rental insurance entirely if you're on a budget, but think long and hard before you do that. The savings you would derive if a loss occurs would more than outweigh the few dollars per day you spend on the insurance.
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